All Accounting & Auditing articles – Page 68
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Blog
FASB proposes updated, new taxonomies for 2018
FASB has completed its annual update to the GAAP taxonomy and has added a new taxonomy for companies to consider addressing international standards.
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Article
FASB’s new hedging standard opens door to new strategies
Companies have yet another new accounting standard from the Financial Accounting Standards Board to adopt, but this time they can’t wait to get started.
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Blog
COSO publishes final version of updated ERM framework
COSO has released its newly revised enterprise risk management framework, giving companies a new tool to consider in building out their ERM approaches.
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Blog
Study asserts link between control weaknesses, fraud
Academics say they have identified a link between internal control weaknesses and later revelations of fraud, lending fresh support to key provisions of SOX.
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Blog
PCAOB sees some improvement, yet room for more
Based on its latest round of audit inspections in 2017, the PCAOB found some improvement at some firms, but still plenty of work to do to meet standards.
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Article
Pushback rises on disclosure of auditor, audit committee talks
Despite calls for transparency around the interaction between audit committees and auditors, angst runs deep about giving investors visibility into that dialogue.
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Blog
Aircastle Limited appoints chief accounting officer
Aircastle Limited, a global company that acquires and leases commercial jet aircraft, has appointed Jay Maronilla as chief accounting officer.
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Blog
FASB finalizes new approach to hedge accounting
The FASB has issued its long-awaited standard to simplify hedge accounting, allowing companies to adopt the new approach almost immediately if they choose.
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Blog
Is audit quality essentially a people problem?
Where there are problems with audit quality, it appears to be more of a problem with people than with institutional approaches to audit work.
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Blog
SEC rescinds historic guidance under new revenue rule
The SEC is telling companies its historic staff guidance on revenue recognition will not trump the new revenue standard when it takes effect in 2018.
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Article
Banks wrangle models, data in early stages of CECL prep
As most public companies deal with revenue recognition and lease accounting changes coming in 2018 and 2019, the banking sector is trying to tame an even bigger beast.
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Blog
New study shows more audit committee disclosure
A recent study of Fortune 100 proxy materials shows audit committees continue to voluntarily explain their oversight of the external audit.
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Blog
La-Z-Boy appoints new chief accounting officer
Furniture company La-Z-Boy has appointed Lindsay Barnes as chief accounting officer. She replaces Margaret Mueller who has resigned.
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Blog
Audit tensions often precede control weaknesses, study says
If tensions are rising between a given company and its external auditor, there’s a greater chance the company will be reporting internal control weaknesses.
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Blog
KPMG, partner settle SEC audit failure allegations
The SEC has extracted a $6.2 million settlement from KPMG over charges that the firm and an engagement partner failed to properly audit valuations in 2011.
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Article
Four reasons companies are lagging in lease adoption, and how to get on track
Companies are slipping behind in implementing the new lease accounting standard, and the call for deferral in the effective date may be getting under way.
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Blog
SEC opens search for PCAOB members, including chair
New leadership will soon take over the helm of the PCAOB after SEC Chairman Jay Clayton opens a public search for as many as four board positions.
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Blog
FASB proposes new rules on contributions, grants
Companies may soon have some new instructions to follow in deciding how to account for various types of grants and contributions.
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Blog
FASB plans new expedient for lease accounting
The Financial Accounting Standards Board is preparing to propose a modification to the pending lease accounting standard to amend the transition guidance.
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Article
Cost guidance under new revenue rule is a minefield of issues
Digging deeper into challenges with the revenue standard, companies are traipsing a minefield in determining how to recognize costs tied to generating revenue.